Fani-Kayode: No fund missing, says EFCC witness

An Economic and Financial Crimes Commission (EFCC) witness has told a Federal High Court in Lagos that the commission’s investigation revealed no fund was missing during the tenure of Femi Fani-Kayode as Aviation Minister.

He told Justice Rita Ofili-Ajumogobia that he was assigned the case file in 2008 for investigation and a letter was written to the First Inland Bank to produce Fani-Kayode’s bank statement which was deposited with the EFCC.

The witness said that during investigations, the former minister was invited to the EFCC, where he made various statements in writing relating to the Aviation Intervention Fund (AIF) received during his tenure.

He said that Fani-Kayode on assumption of office set up a committee to probe the disbursement of the AIF made by his predecessor.

He told the court that investigations revealed that no part of the funds was missing during the tenure of the former minister.

“Our investigations revealed that a total of N19.5 billion was released as Aviation Intervention Fund, out of which a total of N8.5 billion was released during the tenure of Prof. Femi Aborishade, the predecessor.

“During the tenure of the accused, the sum of N11 billion was released and out of this sum, the accused disbursed a total of N3.8 billion, leaving a remainder of N7.2 billion in the Ministry’s account.

“Investigations also revealed that no part of the Aviation fund was missing during the tenure of the accused, and there was also no findings that the accused made any disbursement without due process”, said Abdullahi.

Following the findings of the committee, the witness said a report was sent to the National Security Adviser (NSA) on the disbursements.

However, prosecuting lawyer Festus Keyamo did not re-examine the witness but prayed the court for two adjournments to enable him produce his remaining witnesses.

Subsequently, Justice Ofili-Ajumogobia adjourned the case to April 16 and 17 for continuation of trial.

Fani-Kayode is standing trial over a 40-count charge of money laundering preferred against him by the EFCC, to which he has pleaded not guilty.

He was alleged to have transacted with funds exceeding the threshold stipulated by the Money Laundering Act, without going through a Financial Institution.

The EFCC alleged that the former minister accepted cash payments in the tune of about N100 million, while he held sway as Minister of Aviation and Minister of Culture and Tourism respectively.